{"id":690234,"date":"2022-09-29T08:33:11","date_gmt":"2022-09-29T12:33:11","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-retail-customer-experience-is-key-to-earning-shoppers-discretionary-dollars-in-an-era-of-high-inflation\/"},"modified":"2022-09-29T08:33:11","modified_gmt":"2022-09-29T12:33:11","slug":"new-study-shows-retail-customer-experience-is-key-to-earning-shoppers-discretionary-dollars-in-an-era-of-high-inflation","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-retail-customer-experience-is-key-to-earning-shoppers-discretionary-dollars-in-an-era-of-high-inflation\/","title":{"rendered":"New Study Shows Retail Customer Experience is Key to Earning Shoppers\u2019 Discretionary Dollars in an Era of High Inflation"},"content":{"rendered":"<p>        <!--body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>New Study Shows Retail Customer Experience is Key to Earning Shoppers\u2019 Discretionary Dollars in an Era of High Inflation<\/b><\/p>\n<p><b>More Than Two-Thirds Are Less Confident in the Economy Than a Year Ago and 76 Percent Are Spending Less, Trimming Retail Purchases<\/b><\/p>\n<p>MELVILLE, N.Y.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.verint.com%2F&amp;esheet=52929469&amp;newsitemid=20220929005105&amp;lan=en-US&amp;anchor=Verint%26%23174%3B&amp;index=1&amp;md5=a4404992cb547c3808d93bde3b523553\">Verint<sup>\u00ae<\/sup><\/a> (NASDAQ: VRNT), The Customer Engagement Company<sup>\u2122<\/sup>, today released the findings of a new study that shows nearly two-thirds of consumers polled are less confident in the economy than a year ago and 76 percent of them are spending less money, with entertainment and clothing cited as the top areas for budget cuts in retail purchases.\n<\/p>\n<p>\nThis summer, Verint conducted an online survey of 2,000 U.S. consumers who had purchased from a mass market retailer from February to July 2022.\n<\/p>\n<p>\nStruggling with inflation and economic uncertainty, 56 percent of shoppers indicated \u201cvalue for the money\u201d as one of the two most important factors that impact their loyalty to mass market retailers.\n<\/p>\n<p>\nThe survey also shows the fiscal benefits of customer retention and keeping existing customers happy. Ninety-one percent of consumers shop at their favorite mass market retailer at least once a month, with 83 percent spending $50 or more on average.\n<\/p>\n<p>\nRetailers that delight first-time shoppers can also benefit greatly. Three-quarters of consumers who tried a new mass market retailer for the first time in the past six months shopped there more than once, with 90 percent of first-time shoppers making purchases at least once a month thereafter.\n<\/p>\n<p>\nAfter having an amazing customer experience, 88 percent are likely to make a repeat purchase, 82 percent are likely to recommend to friends or family, 68 percent are likely to join a loyalty program, and 63 percent said they are likely to write a positive review.\n<\/p>\n<p>\n\u201cAt a time when global inflation has become one of the biggest issues facing consumers, leaving them with less disposable income, maintaining \u2018share of wallet\u2019 is critical for retailers,\u201d says Verint\u2019s Jenni Palocsik, vice president, marketing insights, experience and enablement. \u201cCreating exceptional experiences should be at the heart of every retailer\u2019s engagement strategy. And our study shows \u2018to the retail customer experience victors, go the spoils.\u2019\u201d\n<\/p>\n<p>\nThe study also shows that a negative customer experience can send shoppers packing; reasons that consumers were likely to stop purchasing from a retailer included: if a customer service issue isn\u2019t resolved in a single attempt (62%), if unable to communicate on their channel of choice (57%), if forced to repeat themselves (55%), and if they have to endure long wait times (50%).\n<\/p>\n<p><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.verint.com%2Fresources%2Fguide-to-cx-retail%2F&amp;esheet=52929469&amp;newsitemid=20220929005105&amp;lan=en-US&amp;anchor=Download&amp;index=2&amp;md5=ef94076da0fc3535f45eb7a18959b28e\">Download<\/a> the full report for more details.\n<\/p>\n<p>\nWith the Verint Customer Engagement Cloud Platform, brands can unlock the potential of customer engagement across every area of the business to deliver consistently differentiated experiences to their customers and employees and do so at scale. Verint solutions automate workflows across enterprise silos, enabling the entire workforce to engage with customers in the right way at the right time to drive real business results.\n<\/p>\n<p>\nFor more information on how to create exceptional customer and employee experiences, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.verint.com%2F&amp;esheet=52929469&amp;newsitemid=20220929005105&amp;lan=en-US&amp;anchor=Verint&amp;index=3&amp;md5=3ce70195bcb84e7e381152d8725c9289\">Verint<\/a>.\n<\/p>\n<p><b>About Verint<\/b><\/p>\n<p>\nVerint<sup>\u00ae<\/sup> (Nasdaq: VRNT) helps the world\u2019s most iconic brands \u2013 including over 85 of the Fortune 100 companies \u2013 build enduring customer relationships by connecting work, data and experiences across the enterprise. The Verint Customer Engagement portfolio draws on the latest advancements in AI and analytics, an open cloud architecture, and The Science of Customer Engagement<sup>\u2122<\/sup> to help customers close The Engagement Capacity Gap<sup>\u2122<\/sup>.\n<\/p>\n<p>\nVerint. The Customer Engagement Company<sup>\u2122<\/sup>. Learn more at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.verint.com%2F&amp;esheet=52929469&amp;newsitemid=20220929005105&amp;lan=en-US&amp;anchor=Verint.com&amp;index=4&amp;md5=32b92f7512d6d7a7843daf39c9a67117\">Verint.com<\/a>.\n<\/p>\n<p>\nThis press release contains \u201cforward-looking statements,\u201d including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect relating to Verint Systems Inc. These forward-looking statements are not guarantees of future performance and they are based on management&#8217;s expectations that involve a number of risks, uncertainties and assumptions, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. For a detailed discussion of these risk factors, see our Annual Report on Form 10-K for the fiscal year ended January 31, 2022, and other filings we make with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release and, except as required by law, Verint assumes no obligation to update or revise them or to provide reasons why actual results may differ.\n<\/p>\n<p>\nVERINT, VERINT DA VINCI, THE CUSTOMER ENGAGEMENT COMPANY, BOUNDLESS CUSTOMER ENGAGEMENT, THE ENGAGEMENT CAPACITY GAP and THE SCIENCE OF CUSTOMER ENGAGEMENT are trademarks of Verint Systems Inc. or its subsidiaries. Verint and other parties may also have trademark rights in other terms used herein.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20220929005105r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20220929005105\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20220929005105\/en\/<\/a><\/span><\/p>\n<p><b>Media Relations<br \/>\n<\/b><br \/>Amy Curry<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:amy.curry@verint.com\">amy.curry@verint.com<\/a><\/p>\n<p><b>Investor Relations<br \/>\n<\/b><br \/>Matthew Frankel<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:matthew.frankel@verint.com\">matthew.frankel@verint.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> New York United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Software Internet Other Retail Professional Services Data Management Technology Artificial Intelligence Retail Data Analytics Public Relations\/Investor Relations Communications Consulting<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20220929005105\/en\/638510\/3\/Verint_Logo_Blue_RGB_High-Res.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>New Study Shows Retail Customer Experience is Key to Earning Shoppers\u2019 Discretionary Dollars in an Era of High Inflation More Than Two-Thirds Are Less Confident in the Economy Than a Year Ago and 76 Percent Are Spending Less, Trimming Retail Purchases MELVILLE, N.Y.&#8211;(BUSINESS WIRE)&#8211;Verint\u00ae (NASDAQ: VRNT), The Customer Engagement Company\u2122, today released the findings of a new study that shows nearly two-thirds of consumers polled are less confident in the economy than a year ago and 76 percent of them are spending less money, with entertainment and clothing cited as the top areas for budget cuts in retail purchases. This summer, Verint conducted an online survey of 2,000 U.S. consumers who had purchased from a mass market retailer from February &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-retail-customer-experience-is-key-to-earning-shoppers-discretionary-dollars-in-an-era-of-high-inflation\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;New Study Shows Retail Customer Experience is Key to Earning Shoppers\u2019 Discretionary Dollars in an Era of High Inflation&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-690234","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New Study Shows Retail Customer Experience is Key to Earning Shoppers\u2019 Discretionary Dollars in an Era of High Inflation - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-retail-customer-experience-is-key-to-earning-shoppers-discretionary-dollars-in-an-era-of-high-inflation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Study Shows Retail Customer Experience is Key to Earning Shoppers\u2019 Discretionary Dollars in an Era of High Inflation - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"New Study Shows Retail Customer Experience is Key to Earning Shoppers\u2019 Discretionary Dollars in an Era of High Inflation More Than Two-Thirds Are Less Confident in the Economy Than a Year Ago and 76 Percent Are Spending Less, Trimming Retail Purchases MELVILLE, N.Y.&#8211;(BUSINESS WIRE)&#8211;Verint\u00ae (NASDAQ: VRNT), The Customer Engagement Company\u2122, today released the findings of a new study that shows nearly two-thirds of consumers polled are less confident in the economy than a year ago and 76 percent of them are spending less money, with entertainment and clothing cited as the top areas for budget cuts in retail purchases. This summer, Verint conducted an online survey of 2,000 U.S. consumers who had purchased from a mass market retailer from February &hellip; Continue reading &quot;New Study Shows Retail Customer Experience is Key to Earning Shoppers\u2019 Discretionary Dollars in an Era of High Inflation&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-retail-customer-experience-is-key-to-earning-shoppers-discretionary-dollars-in-an-era-of-high-inflation\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-29T12:33:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20220929005105r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-study-shows-retail-customer-experience-is-key-to-earning-shoppers-discretionary-dollars-in-an-era-of-high-inflation\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-study-shows-retail-customer-experience-is-key-to-earning-shoppers-discretionary-dollars-in-an-era-of-high-inflation\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"New Study Shows Retail Customer Experience is Key to Earning Shoppers\u2019 Discretionary Dollars in an Era of High Inflation\",\"datePublished\":\"2022-09-29T12:33:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-study-shows-retail-customer-experience-is-key-to-earning-shoppers-discretionary-dollars-in-an-era-of-high-inflation\\\/\"},\"wordCount\":831,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-study-shows-retail-customer-experience-is-key-to-earning-shoppers-discretionary-dollars-in-an-era-of-high-inflation\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20220929005105r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-study-shows-retail-customer-experience-is-key-to-earning-shoppers-discretionary-dollars-in-an-era-of-high-inflation\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-study-shows-retail-customer-experience-is-key-to-earning-shoppers-discretionary-dollars-in-an-era-of-high-inflation\\\/\",\"name\":\"New Study Shows Retail Customer Experience is Key to Earning Shoppers\u2019 Discretionary Dollars in an Era of High Inflation - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-retail-customer-experience-is-key-to-earning-shoppers-discretionary-dollars-in-an-era-of-high-inflation\/","og_locale":"en_US","og_type":"article","og_title":"New Study Shows Retail Customer Experience is Key to Earning Shoppers\u2019 Discretionary Dollars in an Era of High Inflation - Market Newsdesk","og_description":"New Study Shows Retail Customer Experience is Key to Earning Shoppers\u2019 Discretionary Dollars in an Era of High Inflation More Than Two-Thirds Are Less Confident in the Economy Than a Year Ago and 76 Percent Are Spending Less, Trimming Retail Purchases MELVILLE, N.Y.&#8211;(BUSINESS WIRE)&#8211;Verint\u00ae (NASDAQ: VRNT), The Customer Engagement Company\u2122, today released the findings of a new study that shows nearly two-thirds of consumers polled are less confident in the economy than a year ago and 76 percent of them are spending less money, with entertainment and clothing cited as the top areas for budget cuts in retail purchases. This summer, Verint conducted an online survey of 2,000 U.S. consumers who had purchased from a mass market retailer from February &hellip; Continue reading \"New Study Shows Retail Customer Experience is Key to Earning Shoppers\u2019 Discretionary Dollars in an Era of High Inflation\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-retail-customer-experience-is-key-to-earning-shoppers-discretionary-dollars-in-an-era-of-high-inflation\/","og_site_name":"Market Newsdesk","article_published_time":"2022-09-29T12:33:11+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20220929005105r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-retail-customer-experience-is-key-to-earning-shoppers-discretionary-dollars-in-an-era-of-high-inflation\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-retail-customer-experience-is-key-to-earning-shoppers-discretionary-dollars-in-an-era-of-high-inflation\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"New Study Shows Retail Customer Experience is Key to Earning Shoppers\u2019 Discretionary Dollars in an Era of High Inflation","datePublished":"2022-09-29T12:33:11+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-retail-customer-experience-is-key-to-earning-shoppers-discretionary-dollars-in-an-era-of-high-inflation\/"},"wordCount":831,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-retail-customer-experience-is-key-to-earning-shoppers-discretionary-dollars-in-an-era-of-high-inflation\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20220929005105r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-retail-customer-experience-is-key-to-earning-shoppers-discretionary-dollars-in-an-era-of-high-inflation\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/new-study-shows-retail-customer-experience-is-key-to-earning-shoppers-discretionary-dollars-in-an-era-of-high-inflation\/","name":"New Study Shows Retail Customer Experience is Key to Earning Shoppers\u2019 Discretionary Dollars in an Era of High Inflation - 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